Examples of Subordinate Debt Service in a sentence
The Trustee shall also pay out of the Subordinate Debt Service Fund the accrued interest included in the Purchase Price of any Subordinate Obligations purchased for retirement pursuant to this Master Indenture.
In no event shall amounts on deposit in the Senior Subordinate Debt Service Reserve Fund be used to pay principal of, interest on or any other amounts due with respect to Other System Indebtedness.
If on any Debt Service Payment Date for a Series of Subordinate Bonds the amount accumulated in the Subordinate Debt Service Fund for any of the purposes specified above calculated with respect to all Subordinate Bonds then Outstanding exceeds the amount required therefor, the amount of such excess shall thereupon be transferred to the Revenue Fund.
The Master Trustee shall also pay out of the Subordinate Debt Service Fund accrued interest included in the purchase price of Subordinate Bonds purchased under any provision of this Trust Agreement or an applicable Supplemental Trust Agreement.
The Master Trustee shall pay out of the Subordinate Debt Service Fund, on or before such redemption date or maturity date, the amount required for the redemption of the Subordinate Bonds so called for redemption or for the payment of such Subordinate Bonds then maturing, and such amount shall be applied to such redemption or payment.
The applicable Redemption Price or principal amount (in the case of maturing Bonds) of any Subordinate Bonds so purchased or redeemed shall be deemed to constitute part of the Subordinate Debt Service Fund until such Sinking Fund Payment date for the purpose of calculating the amount of such Fund.
If a disbursement is made pursuant to a Debt Service Reserve Facility, the Authority shall either (i) reinstate such Facility in full or (ii) deposit to the credit of the Subordinate Debt Service Reserve Account a sum equal to the amount of the disbursement made under such Facility in accordance with its provisions.
All amounts held under this Ordinance in the Senior Debt Service Fund, the Senior Debt Service Reserve Fund, the Subordinate Debt Service Fund and the Subordinate Debt Service Reserve Fund shall be deposited with the Trustee, to the extent herein required, or with one or more other banks or trust companies designated by the Port (each such depository, including the Trustee, being herein referred to as a “Depository”).
Because the work has been finished, as New Covenant believers, we live by grace.
Interest will be payable annually in arrears.Application will be made to the London and Dublin Stock Exchanges for admission of the bonds to the Official List.